Discount retailer Aldi is accelerating its London expansion plans with the opening of four new stores in the English capital by the end of 2024.
The move is part of the supermarket’s broader strategy to increase its market share and offer lower prices to consumers.
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New stores in Leytonstone and Beckton are set to open in the coming months, followed by locations in Holloway Road and Muswell Hill.
These openings are together expected to create more than 150 new jobs in the city.
Aldi has been consistently named the UK’s cheapest supermarket by Which? this year and the company says it has ambitious growth plans for the London market.
It aims to open an additional 100 stores in the capital over the coming years, generating approximately 3,500 jobs.
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By GlobalDataJonathan Neale, managing director of National Real Estate at Aldi UK, said: “Londoners deserve access to affordable food, and we believe we can play a significant role in delivering that. Our expansion plans reflect our commitment to providing value to customers and creating new employment opportunities.
“There are still thousands of shoppers in the capital that don’t yet have access to an Aldi nearby and, as a result, too many people have to make do with big prices at the big supermarkets.
“That’s why, while we’re looking to open new stores across the country, London will be a particular focus for us over the coming years.”
The retailer’s investment in London is part of a wider £550m ($705.79m) UK expansion programme for 2024.
Aldi has a long-term target of 1,500 stores nationwide.
Aldi, the UK’s fourth-largest supermarket chain, is also ramping up its expansion plans across the UK with a commitment to opening ten new stores across the region in the coming months.
Additionally, earlier this month, Aldi announced that it is set to create 1,000 jobs in new stores across the UK by 2025.
As the UK’s grocery market continues to evolve, Aldi’s aggressive expansion strategy positions the discounter as a formidable competitor to established supermarkets.
